According to BlockBeats, on August 31, QCP Capital released a statement on its official channel indicating that if the non-farm employment data next week is weaker than expected, it would justify the United States beginning to cut interest rates starting in September. The current probability of a rate cut stands at 33.0% for a 25 basis point reduction and 67% for a 50 basis point reduction.
Given the recent macroeconomic news has had minimal impact on the cryptocurrency market, QCP Capital believes that in the short term, Bitcoin (BTC) is likely to fluctuate between $58,000 and $65,000. The market is currently awaiting a positive catalyst to break through this range.
